Storecheq aims to disrupt India's USD 40 bn gifting market through its platform

| Updated: Jun 15, 2017 16:46 IST

New Delhi [India], June 15 (ANI): Aiming to disrupt India's estimated 40 billion dollar gifting market, which is almost predominantly cash based, Storecheq Innovation Pvt. Ltd. announced the launch of the country's first GiftTech platform - Storecheq will provide a digital gifting currency universally acceptable across hundreds of retail and online brands. With Storecheq, you can now, gift and redeem instantly on the web. Vivek Gupta, Co-Founder and CEO, Storecheq said, "Gifting, despite being USD 40 billion industry in India and growing at 30% annually, is plagued with inefficiencies and age old processes. Storecheq's innovative GiftTech model aims to unlock and enhance the experience in gifting in a manner similar to how Fintech companies are revolutionizing monetary transactions. Over the last 3 months, we have seen wide acceptance by Corporates, who have discovered the enormous advantages of using Storecheq for their employee rewards & business gifting programs. We will be shortly launching our merchant gift card feature, which will allow any retailer to start a gift card program for his business. Our vision is to empower every retailer with gift card technology and bring an amazing choice of redemption options to our customers, including their neighborhood stores." Initially, Storecheq has partnered with over 100 leading retail and online brands across India and is working to expand this network. The company will be partnering with fin-tech platforms, retailers and e-commerce players to offers best gifting experience to its customers. The company is all set to take the Government of India's objective of a Cashless Economy in the gifting space. Department of Industrial Policy and Promotion (DIPP) has recognized Storecheq in Startup Indiafor its innovative and creative model in gifting space. (ANI)